The circular economy concept assumes the minimization of the impact of manufactured products on the environment by the selection of raw materials and suitable product design to enable the reuse of the products.
Today’s businesses currently need to consider three basic but important issues:
- what they take,
- what they make,
- what they waste
These three have never been more intimately connected than they are today. With dwindling resources and an ever-growing demand on the eco-system, we must reevaluate how we do business.
Circular economy, based on a “closed loop” approach, is a principle in which the value of products and materials is maintained for as long as possible, and the quantity of used resources and generated waste is limited to the minimum.
The European Union as its priority lists the increase of recycling levels of waste plastic as an element necessary to introduce an economy which uses a closed loop approach. The plastic waste conversion technology developed by Handerek Technologies can enable the effective use of waste and fuel the circular economy.
Actions linked to the introduction of a closed loop economy can bring numerous economic, social and environmental advantages. They will ensure, among others:
- Sustainable economic growth meeting the principles of sustainable development and resulting in potential savings of approximately EUR 600 billion by European companies, which equals 8% of their annual turnover
- Support of new, innovative technologies with the assistance of the “Industry 2020 in the Circular Economy” initiative which is to receive financing in the amount of over EUR 650 million
- Creation of 580,000 new jobs for people with diverse professional qualifications
- Creation of a potential for integration and social cohesion, and annual savings of approximately EUR 465 on electricity bills per household by 2020 thanks to improved energy efficiency
- Increased level of protection of the natural environment through the reduction of emissions to all its components, including the soil, water and air. It is estimated that the concept of Circular Economy could reduce the carbon dioxide emissions by 450 million tonnes by 2030
- Counteracting the irreversible damage caused by the consumption of natural resources in quantities exceeding the ability of the Earth to restore these resources
- Increased plastic recycling helps reduce Europe’s dependence on imported fossil fuel and cut CO2 emissions, in line with commitments under the Paris Agreement
All this makes the implementation of the Circular Economy a necessity which we must strive towards. By supporting this concept, we support the natural environment and in addition we create a stable and safe future for us and the generations to come.